discuss It only takes one domain...

[DanBingham]

...to make you a Millionaire'

I read this elsewhere within another forum post here on nP recently, and I guess it's stuck with me. As domain name investors, we all know how unpredictable this industry can be, and we all come across times where sales slump or become non-existant.

Next time you feel demotivated and ready to give up, remember that it really 'Only takes one domain to make you a Millionaire'.

 

[nitg16]

Lol, after reading this newbies will go on hand reg spree.

Having said that, I am not sure about the millionaire part but domaining can make you loose your savings.

Domaining is like roulette, when one player bets on "0" and wins a huge amount, some other players get influenced and start taking risks by betting on "0" without even considering the odds and then they loose. Dealers (registrars, sellers) enjoy it

Very few people make money, you have to tread carefully. A conservative, laid back approach can actually save you money, improve quality of your portfolio and odds of winning.

 

[DrJacoby]

Yep, you only have to buy Sex.com or X.com from the GoDaddy closeouts to become a millionaire. Shouldn't be too hard.

 

[Kate]

How many domains sell for millions ? The odds of winning the lottery are higher.
It's important to keep expectations realistic, and set modest goals in the beginning. Otherwise you will lose motivation and money.

 

[domainventure]

 

[DnEbook]

Too many people think their name is worth a million and then ten years later they end up dropping it

 

[Acroplex]

Is the domain aftermarket in a slump? Definitely.

It has been down before and rose back up.

The OP's message is about not calling it quits when the going gets tough.

 

[Ategy]

Nobody even relatively new to domaining should ever think about selling a domain for $1,000,000! lol

Selling domains for a million+ means buying domains for 5 and more likely 6 figures. Something I wouldn't recommend for anyone new to domaining until they can be absolutely sure they are getting the RIGHT domains with actual potential of selling at a profit.

The more realistic model is buying domains at $xx-$xxx and selling them for $xxxx .. even with those more realistic goals there is a lot to learn and domaining can be a challenge ... but having headlines saying it just takes one domain to become a millionaire does more harm than good for the industry as it simply creates false hope and sends newcomers down the wrong path.

 

[SpareDomains]

I think for most domainers it shouldn't be about selling 1 domain out of their portfolio for a million. It should be about selling most domains for x,xxx-xx,xxx. If ya get lucky with xxx,xxx or x,xxx,xxx great but statistically speaking most won't see those numbers based on quality of their domains.

I've sold $8 expired/hand regs for 15+ years all across the board 1k, 3k, 6.5k, 7.5k, 16k etc... so basically all of my sales are 99%+ profit and a good chunk of this income has been reinvested into websites that produce xxx-xxxx a month while I sleep, stock investments, etc... basically a diversified recurring revenue stream. I throw money all over the place so if one sector dries up all my eggs aren't in one basket. It's not how much income ya make it's how ya put that income to work to keep building a recurring revenue stream that builds to your end goal. Doesn't matter if a quick build or a slow build but each year you should see an increase in revenue from the previous year.

If ya outbound, if ya sell on forums you'll always be x into xx, x into xxx or x into xxxx. Which might work for some but when ya factor in your time which most don't it equals a low paying job without benefits. I prefer spending more time thinking like a business and only buying domains that make sense if I was in that business and you can watch sales happen without outbound or forum selling and now all your sales start at the x,xxx range with minimal work.

All I've ever done is buy a good domain, put it on my sales lander, list at sedo, afternic etc... and continue on with life. 90%+ of all of my leads/sales happen direct as that's where I point the domains.

1)Quality Domains
2)Directed To A Sales Page On Your Own Site
3)Distribution Sedo, Afternic etc....
4)Knowing A $1000 domain from a $15000 Domain
5)Knowing When To Pass On An Offer Or Pull The Trigger
6)Reinvesting A Percentage Of Income Into Better Domains, Websites or Diversified Investments etc....

Thought is nice $8 into a million but I see nothing wrong with $8 into x,xxx-xx,xxx as that's still an insane ROI and I've made this range happen quite a bit over the last 15+ years. Can go the plate and swing for a homer and strike out or remain composed/focused and nail the double or triple. Few double or triples reinvested can equal the income of a grand slam.

 

[member-1010456]

Everything in this business is about timing, timing, timing!

 

[Ollie3000]

If some of these ngtld's take off (fingers crossed) they'll be a few domainers that might get near the mark. But for .com, you'd have to already own an ultra awesome short single word and if you do own those, then you are probably fairly wealthy already!

However I get the post, don't give up it only takes one good sale to change your fortunes. That being said, don't blow all of your savings either!

 

[PeakDots]

and here goes another one:

Block-Chain.com -1M$

Sure is great for the seller! Congrats to them!

As the OP said it takes one name.
We know crypto/blockchain is hot right now but I'll be honest this does not motivate me to register/purchase a bunch of crypto/blockchain/hyphenated names.
I own a few crypto/blockchain names already and the market is flooded with them. If blockchain wasn't as hot this would've been considered a crap name.

But I'll be honest what it does motivate me to do is to be on the look out for the next future trends/niches/products/services to be able to pick the best names possible before they are all gone.

So yes OP, I did get a little motivation out of a $1,000,000 sale.
Thanks

 

[frank-germany]

...to make you a Millionaire'

I read this elsewhere within another forum post here on nP recently, and I guess it's stuck with me. As domain name investors, we all know how unpredictable this industry can be, and we all come across times where sales slump or become non-existant.

Next time you feel demotivated and ready to give up, remember that it really 'Only takes one domain to make you a Millionaire'.

that post maybe fraud

 

[johname]

Cant make a Mil on one domain if you cant say no to 50k or 100k "take it or leave it" offer.

 

[DeliDomains]

Its not easy. But anything is possible. This is what drives me.

 

[FolioTeam]

it's not necessarily about the millions. It's about never ever giving up. At least that's the way I read it.

Thanks for sharing

 

[DnEbook]

It will be work associated with the domain/business that really makes the money

 

[DrJacoby]

Everything in this business is about timing, timing, timing!

Quality of domains has nothing to do with it?

 

[ivey]

I took it to mean that, one domain sale can get you out of a financial funk and give you some leg-room to invest smartly and get to your first million over time. It takes patience, hard work, mistakes and alot more...That's why only a few make it that far. I hope to make it to that level. I will.

 

[imadoer]

You buy the right domain at the right price and you get the right buyer you can sell it in the seven-figure category you're definitely going to have to spend some real money to acquire the domain name to sell for 7 figures

 

[DOMAIN ILLUMINATI]

"It only takes one domain… …to make you a Millionaire"

It actually needs more a millionaire who makes you a millionaire (which buys the domain).
But of course, both is needed - the right domain & the buying millionaire.
A veryyy rare "mixture".
But not excluded - I believe that I will experience this one dayyy

 

[DanBingham]

it's not necessarily about the millions. It's about never ever giving up. At least that's the way I read it.

Thanks for sharing

... and you read it right

 

[ajenipa]

That's it! Going set all BIN to 1 mil
Let's hope 1 sells! JK

Sure it's motivation with high hopes.
Let's be a little more realistic and read some of the sales threads here. Maybe not 1 mil sales on one name but more of realistic prices which is still great motivation imo.

set 1M BIN...you are gonna be one click away from becoming a millionaire

 

[Andrew Knox]

IMO the best way to become a millionaire with one domain is to develop it and build a brand

 

[DanBingham]

that post maybe fraud

Possibly, and you might be quite right, however the statement is true.